In compliance with EU internet privacy laws, exiting this message attests that you, the user, consent to the use of cookies on this website.
We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.

Scout24 rejects offer to buy car listings company from Auto1

Auto1, a used vehicle dealing platform also in Germany, recently floated a deal for Scout24's vehicle listings business, but no significant offer was ever made, consequently, Scout24 has stated that it has no interest in selling or merging that portion of the company.

Both Auto1 and Scout24 have declined any further comment about the situation.

Scout24 creates synergies within engineering and data analytics in addition to their other unit that combines real estate and vehicle listing activities.

Just last year after Scout24 was given an offer for the entire company they brought aboard Morgan Stanley to look at their options, however the company hasn't gone any further to sell.

Hellman & Friedman and Blackstone, private equity firms, recently put up a 43.50 euros per share to buy Scout24, which Scout24 said was not enough of an offer.

Scout24 is well known for their ImmobilienSouct24 home listings and their AutoScout24 listings. Hellman & Friedman purchased a majority stake in Deutsche Telekom in 2013, then listed the company for sale in 2015, and selling all of their shares.

Just last year Auto1 was able to raise 460 million euros from Softbank, which valued the company at 2.9 billion euros and helped to boost the company's worldwide growth.